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Bank Sinarmas to channel USD 25 million to Elang Andalan

04 March 2022 10:37

JAKARTA – PT Bank Sinarmas Tbk (BSIM) will invest USD 25 million in PT Elang Andalan Nusantara (EAN), which oversees the subsidiary that manages the DANA e-wallet application. Soetanto Soetjito, Director of Bank Sinarmas, revealed this news in the information disclosure quoted Friday (4/3).

According to Soetjito, the said investment plan aligns with the collaboration of the company’s digital business expansion. The said investment will be effective after gaining approval from the  Financial Services Authority (OJK). “Last week (28/2), the company signed the conditional agreement regarding the investment plan in DANA,” he confirmed.

DANA digital platform is managed by PT Espay Debit Indonesia Koe (EDIK), a subsidiary of EAN, indirectly owned by PT Elang Mahkota Tbk (EMTK). On the other hand, BSIM is reported to have 19,716,162,403 shares, 59.99% of which belong to PT Sinarmas. The public is left with the remaining 40.01% (below 5%). (LK/ZH)

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